Which of the following is true for offshore financial centers?
A)They are developed countries who offer tax-free financial help to developing countries.
B)They are countries where there are few rules governing the financial sector as a whole and low overall taxes.
C)They are central points for business and finance and are usually home to major corporations and banks or at least regional headquarters for global firms.
D)They are countries which serve as the local headquarters for the International Monetary Fund and the World Bank.
E)They are islands which serve as the annual destinations for the financial meets of the G20 group.

Question

Quizplus · Accepted Answer

Offshore financial centers are characterized by having few regulations governing the financial sector and low tax rates, making them attractive for foreign investment and financial activities.

Which of the Following Is True for Offshore Financial Centers